U.S. deficits have risen by about 7% of GDP since 2001, with spending—not revenue—the main driver. Marc Goldwein says roughly one-quarter of the increase stems from lower revenue, while three-quarters reflects higher outlays, led by Social Security and health care.
published
U.S. deficits have risen by about 7% of GDP since 2001, with spending—not revenue—the main driver. Marc Goldwein says roughly one-quarter of the increase stems from lower revenue, while three-quarters reflects higher outlays, led by Social Security and health
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